Client Situation
A leading absence management provider of outsourced family medical leave act (FMLA) and both short and long-term disability (STD and LTD) services and software, to companies ranging in size from 250 to 200,000 employees, was challenged with delivering a new SaaS product they had sold to one of the nation’s largest insurance carriers on time. The company needed to support rigorous service level agreements, and improve internal operational productivity for its internal agents as well. As a private equity-owned company, it was in critical need of a performance turnaround.
Solution
An E78 Partner, as Chief Technology Officer (CTO), restructured the Development and Technology organizations that were in severe distress to enable the development and sale of enterprise class Software as a Service (SaaS) solutions. He implemented agile development methodologies, established product architecture and roadmap protocols, and supported client implementations. He also outsourced technology infrastructure to meet contractual demands for availability, security, and business continuity.
Results
Through the delivery of a comprehensive new SaaS product, the company was able to:
- Satisfy the demands of its key software customer, one of the largest insurance companies, that was planning on using the application to support its entire absence management client base. Revenues from this application, for this customer, were in the $5 to $10 million range annually.
- Utilize the application internally to support improved operational productivity.
- Achieve a significantly higher multiple when the company was sold to another national insurance provider.
